Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0201%/8h= −22.0% APRpaid last 24h −0.069%

Price spread now: Gate against Kraken Futures+0.109%7-day average +0.094% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$330.325% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.298%−$30 on $10k

Price spread, last 4 days (all we have)−0.039%−$4 · spread now +0.109%, 7d avg +0.094%

Together, before fees−0.337%−$34 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.094%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XAUUSD	4,343.2	0.0259	pay 0.0032% / 1h	2m 58s	$590K	$135K	25x
Short	Gate XAU_USDT	4,347.9	0.0058	get 0.0029% / 4h	3h 02m	$268.6M	$419.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee GatebpOrdersPrice spread, now +0.109%Rate

Funding earned: −$42.19
Price spread: +0.109% → +0.094%: $1.44
Slippage, 4 orders: −$7.5
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$73.25
Costs to cover: 0.325%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 50 min ago; Gate: live order book, 1 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Kraken Futures live order book, 50 min ago	2.36 bp	8.4 bp −$8	12.2 bp −$122	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	0.01 bp	7.5 bp −$8	8.3 bp −$83	12.8 bp −$1,276	14.3 bp −$7,132

XAU on 39 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bluefin GOLD-PERP	−0.0015%	1h	4,339.2	−0.094%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,350.8	+0.175%	$92K	$8.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,342.5	−0.017%	$272K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,345.9	+0.062%	$3.7M	$12.6M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,342.5	−0.016%	$13.2M	$37.3M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.166%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,345.3	+0.048%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,344.7	+0.034%	$5.6M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,379	+0.824%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,343.1	−0.003%	$293.8M	$49.1M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAU-USD.P	+0.0050%	1h	4,342.1	−0.026%	$15.0M	$56.8M	25x	as long as short
Kalshi KXGOLDPERP	+0.0052%	24h	4,344.6	+0.032%	$4.3M	$39.3M	15x	as long as short
Lighter XAU	+0.0056%	1h	4,345.4	+0.050%	$20.7M	$34.8M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,343.1	−0.003%	$2.1M	$4.7M	25x	as long as short
Gate XAU_USDTshort	+0.0058%	4h	4,347.9	+0.109%	$268.6M	$419.5M	100x
Bybit XAUUSDT	+0.0059%	4h	4,347.4	+0.096%	$80.0M	$152.1M	150x	as long as short
Paradex XAU-USD-PERP	+0.0068%	8h	4,345.5	+0.052%	$19K	$5K	5x	as long as short
Lighter RH XAU	+0.0088%	1h	4,348	+0.111%	$20.2M	$40.3M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,341.5	−0.040%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,341.7	−0.035%	$274K	$203K	50x	as long as short
Aster XAUUSD1	+0.0101%	4h	4,346.5	+0.076%	$71.5M	$331.5M	20x	as long as short
Variational Omni XAU	+0.0105%	4h	4,345.4	+0.049%	$48.3M	$27.6M	—	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,344.6	+0.032%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0120%	4h	4,346.4	+0.074%	$370.7M	$322.2M	1000x	as long as short
Binance XAUUSDT	+0.0120%	4h	4,346.5	+0.075%	$418.7M	$2.09B	100x	as long as short
edgeX XAUUSDC	+0.0121%	4h	4,342.4	−0.019%	$30.2M	$58.0M	50x	as long as short
Hotstuff GOLD-PERP	+0.0128%	1h	4,342.9	−0.007%	$33K	—	25x	as long as short
Phoenix GOLD	+0.0136%	1h	4,341.7	−0.035%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0142%	4h	4,346.6	+0.079%	$1.4M	$2.9M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0164%	1h	4,345.2	+0.046%	$204K	$827K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0202%	1h	4,346.2	+0.069%	$4.2M	$2.0M	20x	as long as short
Bullet GOLD-USD	+0.0205%	1h	4,346.5	+0.076%	$59K	$82K	10x	as long as short
Phemex XAUUSDT	+0.0216%	4h	4,349.1	+0.135%	$2.2M	$967K	100x	as long as short
Kraken Futures PF_XAUUSDlong	+0.0259%	1h	4,343.2	long leg	$590K	$135K	25x
Bitget XAUUSDT	+0.0276%	4h	4,346.8	+0.081%	$71.1M	$108.9M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0331%	8h	4,347.5	+0.099%	$167.3M	$283.4M	100x	as long as short
BloFin XAU-USDT	+0.0362%	4h	4,346.5	+0.075%	$15.8M	$4.4M	100x	as long as short
HTX XAU-USDT	+0.0378%	4h	4,348.7	+0.125%	$2.8M	$4.6M	75x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0428% / S −0.0252%	1h	4,346.5	+0.075%	$250K	—	111x	as long as short